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Technology Stocks : Semi Equipment Analysis

SOXX 296.92

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4:00 PM EST

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To: Gottfried who wrote (3166)	5/17/2002 11:33:30 AM
From: Return to Sender	Read Replies (1) of 95501

From Briefing.com: 10:55AM Early volatility attributed to double-witching options expiration : 10:50AM Dow and Nasdaq slump to lows of morning : 10:17AM Cabot Micro hit by research note (CCMP) 52.75 -2.13: -- Update -- More on 10:06 comment: the research note appears to have come from Blackfin Research; it reportedly said that TXN has notified CCMP that DuPont/Air Products will displace its oxide slurry business, and that TXN has experienced a bacterial or fungus growth problem with tungsten slurry at one fab, but that it's not clear if this is a TXN issue or a problem with CCMP's tungsten slurry; Blackfin says that DuPont/Air Products is also being evaluated by TXN for the tungsten slurry business 10:06AM Cabot Micro hit by TXN talk (CCMP) 53.26 -1.62: Stock hit by trading floor rumors that Texas Instruments (TXN) has notified CCMP that Du Pont and/or Air Products will be displacing its oxide slurry business, and that company is having problems with CCMP tungsten slurry; hearing that this call came from a boutique research firm but haven't been able to confirm that. 9:48AM Nasdaq Composite Intraday : -- Technical -- Rallies on the early move into the tech sector but unable to challenge yesterday's high at 1759. Intraday watching support at 1734/1730. Ability to hold above this area leaves the door open for another run at resistance. If taken out, the index faces next resistances at 1765/1768 (50 day sma, trendline off Jan/Mar highs) and 1779 (bottom of April 22 gap). 9:48AM Michigan sentiment index 96.0; stronger than 93.0 consensus : The Univ of Michigan consumer sentiment index rose to 96.0 in the preliminary May reading from 93.0 in April. This was better than the 93.0 consensus and should be a positive for the market. 9:19AM Kulicke & Soffa gives cautious guidance on call (KLIC) 19.66: Company's mid-quarter update conference call is currently in progress; we're hearing from sources on the call that the company is talking about the lower end of the range for guidance; nothing more specific at this point. Stock trading down to 18.60 pre-market. 8:34AM Qualcomm upped to Outperform by USB Piper Jaffray (QCOM) 32.34: USB Piper Jaffray upgrades to OUTPERFORM from Mkt Perform; firm is now comfortable with estimates for FY02 and FY03. Finds valuation of 35x CY03 estimate attractive, noting that QCOM's comparables are trading at roughly 62x earnings. Firm raises price target to $38 from $34. finance.yahoo.com^SOXX+^IXIC&d=t RtS

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